MUZAFFARNAGAR DISTRICT COOPERATIVE BANK LTD., MUZAFFARNAGAR V. ACIT, CIRCLE- 1 , MUZAFFARNAGAR

ITA 8323/DEL/2018

• Counselvise Citation: [2022] 107 COUNSELVISE.COM (IT) 0844 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 7 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-08-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2009-2010
• Appeal Filed On: 30-12-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Opportunity of being heard

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH. YOGESH KUMAR US, JUDICIAL MEMBER ITA No.8322, 8323 & 8325/Del/2020 Assessment Year: 2008-09,2009-10 & 2013-14 Muzaffarnagar District Cooperative Bank Ltd., C/o Anil Deep And Company 41/85, Sadar Bazar, Muzaffarnagar-251001 PAN No.AAAAM4327P Vs ACIT Circle-1 Muzaffarnagar (APPELLAN (RESPONDENT) Appellant Sh. Ankit Gupta, Advocate Respondent Sh. Vivek Sharma, CIT DR Date of hearing: 03/08/2022 Date of Pronouncement: 03/08/2022 ORDER PER N.K. BILLAIYA, AM: ITA No.8322/Del/2018, 8323/Del/2018 and 8325/Del/2018 are three separate appeals by the assessee preferred against the three separate orders of the CIT(A), Muzaffarnagar dated 27.09.2018 pertaining to A.Y.2008-09, 2009-10 and 2013-14. 2 2. At the very outset the Counsel for the assessee stated that the impugned appeals are in relation to the penalty levied by the AO u/s. 271 (1) (c) of the Act. 3. The Counsel pointed out that in so far as the quantum addition are concerned the quarrel has been settled under the DTVSVS Act, 2020 and, therefore, as per the relevant provisions of the Act no penalty should be levied u/s. 271 (1) (c) of the Act. 4. We have the benefit of the certificate issued by the designated authority in form No.5 which is an order for full and final settlement of tax arrear u/s. 5 (2) r.w.s. 6 of the DTVSVS Act, 2020. In our considered opinion where the quantum quarrel has been settled by the assessee under direct tax DTVSVS Act, 2020 no penalty should be levied u/s. 271 (1) (c) of the Act. 5. We accordingly restore the impugned appeals to the files of the AO. The AO is directed to decide the levy of penalty u/s. 271 (1) (c) of the Act in the light of the relevant provisions of the DTVSVS Act, 2020 after giving a reasonable and sufficient opportunity of being heard to the assessee. 6. With the above directions of the appeal are allowed. 3 7. Decision announced in the open court on 03.08.2022. Sd/- Sd/- (YOGESH KUMAR US) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER *NEHA, Sr. Private Secretary* Date:- .08.2022 Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI Date of dictation 03.08.2022 Date on which the typed draft is placed before the dictating Member 03.08.2022 Date on which the typed draft is placed before the Other member 03.08.2022 Date on which the approved draft comes to the Sr.PS/PS 03.08.2022 Date on which the fair order is placed before the Dictating Member for Pronouncement 03.08.2022 Date on which the fair order comes back to the Sr. PS/ PS 05.08.2022 Date on which the final order is uploaded on the website of ITAT 05.08.2022 Date on which the file goes to the Bench Clerk 05.08.2022 Date on which file goes to the Head Clerk. The date on which file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order